Intel soars on Apple chip deal, lifting S&P 500 and NASDAQ to record highs
Crypto Briefing
Intel shares surged following a preliminary manufacturing deal with Apple, helping drive the S&P 500 and NASDAQ to record highs.Summary
Intel shares experienced a significant rally following reports of a preliminary agreement to manufacture processors for Apple. While the deal lacks specific production timelines or volumes, it marks a pivotal development in Apple's strategy to diversify its semiconductor supply chain away from TSMC. For Intel, securing Apple as a client would be a major milestone in CEO Pat Gelsinger's 'IDM 2.0' strategy, bolstering the company's efforts to reach break-even in its foundry division by 2027. The news, coupled with strong earnings in the AI chip sector, propelled both the S&P 500 and NASDAQ to record highs.
(Source：Crypto Briefing)